Beleave Inc. (CSE:BE) (“Beleave” or the “Company”) is pleased to announce it has entered into a non-exclusive investment agreement with Alumina Partners, LLC, a New York-based private investment partnership, providing the availability of up to CAD $20 million over a 24-month period, to take advantage of new opportunities, increase operating flexibility, and strengthen the Company’s balance sheet. The terms of the agreement will allow Beleave to draw down capital at will, on an as-needed basis, in a series of equity private placements of a minimum of CAD $2 million in accordance with exchange policies. The objective is to provide Beleave with more flexible access to capital at the Company’s sole discretion.
“This agreement underpins Beleave’s ability to execute on growth initiatives in line with our strategic plan without any firm obligation to use this capital,” said Beleave Chief Financial Officer, Bojan Krasic. “We continue to grow as a company and are always looking for optionality when it comes to obtaining new sources of future capital.”
Pursuant to the terms of the agreement, Alumina Partners will commit to purchase up to CAD $20 million of units of the Company, consisting of one common share and one common share purchase warrant. Unit price will be determined within the regulatory issuance maximum discount of up to 25% of share price at the time of drawdown. Each offering occurring exclusively at the option of the Company, throughout the term of the agreement. The exercise price of the warrants will be at a 25% premium over the market price at time of issuance.
“We are delighted to support Beleave as they execute their plans and work to advance initiatives on several fronts of the regulated cannabis space,” added Adi Nahmani, Managing Member of Alumina Partners, LLC. “We were deeply impressed by the scale and scope of their planned diversified footprint, and look forward to seeing new shareholder value unlocked as the industry evolves and Beleave expands with it.”
ABOUT BELEAVE INC.
Beleave Inc. is a biotech company who’s wholly-owned subsidiary Beleave Kannabis Corp. is licensed to cultivate and sell medical cannabis and produce cannabis oils and extracts pursuant to Health Canada’s Access to Cannabis for Medical Purpose Relations. Beleave has developed a network of medical cannabis clinics under the Medi-Green banner and has applied for various patents to broaden its strong research focused foundation.
This news release contains “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). The use of any of the words “plan”, “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com.
Meanwhile, two longstanding cannabis partners ended their relationship.
Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development
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The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products
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Revive Therapeutics Provides Update on FDA Phase 3 Clinical Trial for Bucillamine in COVID-19 with Planned Completion and Emergency Use Authorization Request
Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.
With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.
DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.